Ahlstrom has decided not to make any further investments in Porous Power Technologies, LLC. The U.S.-based subsidiary has not been able to develop its nonwoven battery separator solution into a product that would be qualified by potential customers.
As a consequence, the Board Members of Porous Power Technologies have decided to wind down operations in an orderly manner. Ahlstrom will book net of tax an impairment loss of approximately EUR 8 million in its third-quarter 2014 financial results. The impairment will not have any material cash effect.
Ahlstrom acquired a 49.5% stake in Porous Power Technologies in 2011 and now holds approximately 60% of the shares in the company.
